Amalgamated Bank Sells 16,942 Shares of Alaska Air Group, Inc. (NYSE:ALK)

Amalgamated Bank lessened its stake in Alaska Air Group, Inc. (NYSE:ALK) by 30.0% in the third quarter, HoldingsChannel reports. The firm owned 39,482 shares of the transportation company’s stock after selling 16,942 shares during the period. Amalgamated Bank’s holdings in Alaska Air Group were worth $1,785,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Capital Research Global Investors bought a new stake in shares of Alaska Air Group in the 1st quarter valued at about $36,993,000. Assenagon Asset Management S.A. grew its holdings in Alaska Air Group by 2,087.8% during the third quarter. Assenagon Asset Management S.A. now owns 762,889 shares of the transportation company’s stock valued at $34,490,000 after purchasing an additional 728,019 shares during the period. Dimensional Fund Advisors LP increased its stake in Alaska Air Group by 5.8% in the second quarter. Dimensional Fund Advisors LP now owns 6,504,583 shares of the transportation company’s stock valued at $262,789,000 after purchasing an additional 357,907 shares in the last quarter. Mesirow Institutional Investment Management Inc. acquired a new stake in Alaska Air Group in the second quarter worth $11,475,000. Finally, Russell Investments Group Ltd. boosted its position in shares of Alaska Air Group by 35.0% during the first quarter. Russell Investments Group Ltd. now owns 862,376 shares of the transportation company’s stock worth $37,074,000 after purchasing an additional 223,725 shares in the last quarter. Institutional investors own 81.90% of the company’s stock.

Alaska Air Group Trading Down 0.8 %

Shares of NYSE:ALK opened at $51.45 on Wednesday. The company’s 50-day moving average price is $44.24 and its two-hundred day moving average price is $41.12. Alaska Air Group, Inc. has a one year low of $32.00 and a one year high of $52.19. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.60 and a quick ratio of 0.57. The stock has a market capitalization of $6.49 billion, a PE ratio of 20.75, a price-to-earnings-growth ratio of 1.15 and a beta of 1.59.

Alaska Air Group (NYSE:ALK) last released its earnings results on Thursday, October 31st. The transportation company reported $2.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.22 by $0.03. Alaska Air Group had a return on equity of 12.81% and a net margin of 2.99%. The business had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $3 billion. During the same quarter in the previous year, the business earned $1.83 earnings per share. Alaska Air Group’s quarterly revenue was up 8.2% on a year-over-year basis. On average, equities analysts forecast that Alaska Air Group, Inc. will post 4.26 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on ALK shares. Evercore ISI lowered their price objective on shares of Alaska Air Group from $60.00 to $55.00 and set an “outperform” rating for the company in a research report on Thursday, October 3rd. Barclays started coverage on Alaska Air Group in a research report on Monday, October 21st. They set an “overweight” rating and a $55.00 price target on the stock. Melius Research upgraded Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 price objective for the company in a research report on Monday, October 28th. Morgan Stanley dropped their target price on shares of Alaska Air Group from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. Finally, TD Cowen reduced their price target on shares of Alaska Air Group from $52.00 to $50.00 and set a “buy” rating for the company in a report on Thursday, October 3rd. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Alaska Air Group presently has an average rating of “Moderate Buy” and a consensus target price of $54.17.

Alaska Air Group Company Profile

Alaska Air Group, Inc, through its subsidiaries, operates airlines. It operates through three segments: Mainline, Regional, and Horizon. The company offers scheduled air transportation services on Boeing jet aircraft for passengers and cargo in the United States, and in parts of Canada, Mexico, Costa Rica, Belize, Guatemala, and the Bahamas; and for passengers across a shorter distance network within the United States, Canada, and Mexico.